US stocks end mixed, oil prices weigh

By FXStreet Wall Street closed mixed, with the DJIA down 34 points or 0.20% at 17,705.91, but the Nasdaq and the S&P ending modestly higher, up by 0.30% to 4,750.21 and 0.08% to 2,058.69 respectively.

A decline in oil prices mid-morning, and expectations of weak earnings reports weighed on investors’ sentiment.

DJIA technical perspective

“The Dow daily chart suggests that the risk is towards the downside, as the 20 SMA is gaining bearish slope above the current level, while the technical indicators have turned south after failing to overcome their mid-lines,” said Valeria Bednarik, chief analyst at FXStreet. “Shorter term, however, the downside seems limited, given that in the 4 hours chart, the index holds above its 20 SMA, whilst the Momentum indicator bounced from its 100 level and heads north within positive territory and the RSI consolidates around its mid-line. Renewed selling interest below the daily low, set at 17,660, should see the decline extending down to 17,539, past week low.”

Support levels: 17,734 17,660 17,616. Resistance levels: 17,770 17,855 17,940.
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Source:: FX Street